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Swans Trust latest 11:22 - Oct 18 with 938 viewsKeithHaynes

Recently it was announced that the Convertible Loan Notes (CLNs) held by Jason Levien, Steve Kaplan, and Jake Silverstein are being converted into equity at the club. The Swans Trust can confirm today that the process has now been completed. This is a positive step forward and the result of an ongoing process between the ownership group and the Swansea City Supporters’ Trust, with months of dialogue to examine options and ensure that the best interests of the club and the Trust are protected.

The conversion of the loan notes which total GBP 10 million into equity will reduce the total debt owed by the club and improve the financial stability in the short-medium term. The agreement to convert the loans to shares in the club has been in place since the introduction of the CLN structure back in 2020 and is part of the ongoing push to ensure the club is financially sustainable.

The day-to-day influence of the Trust, and the strong relationships formed with the senior management team within the club, will not be affected by this change. The conversion of the loan notes will mean the Trust’s shareholding becomes just under 16%. This dilution is what was agreed and expected when the shareholding dispute was settled in February 2022. We should of course remember that 5% of our holding is not dilutable, a benefit gained as part of the settlement agreement, and the Trust’s share rights will never dip below 5% unless we agree to sell this shareholding.

The use of CLNs and other financial instruments to support clubs is common in the football league, and we have seen similar capital injections from investors and ownership groups throughout the pyramid, particularly as the fallout from the pandemic and the rise in inflation continues to affect operations.

Football finance more broadly is in a perilous situation, and we are in constant discussions with our partners at the Football Supporters’ Association about actions and discussions with national bodies and ministers within government to resolve this. We back the recommendations set out in the Fan Led Review to develop a more sustainable financial model for clubs outside of the Premier League, and our survey of members highlighted widespread support for the implementation of such actions.

If you have any questions about today’s announcement, please email us at info@swanstrust.co.uk

The Swans Trust continues to work tirelessly to ensure we have a sustainable and viable football club in the short-medium term as well as long into the future.

Swansea City Supporters’ Trust

18th October 2022

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Swans Trust latest on 12:28 - Oct 18 with 876 viewsPrettySheetyCity

Fair play, that’s great news. £10million debt off the books during a financial crisis and whilst other clubs are increasing their lending.

Good to see that the Trust were kept in the loop too. I doubt it would have if legal proceedings were ongoing.
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Swans Trust latest on 12:32 - Oct 18 with 873 viewsBadlands

Other than making the announcement the Trust had sod all to do with this.

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Swans Trust latest on 12:47 - Oct 18 with 855 viewsKeithHaynes

Swans Trust latest on 12:32 - Oct 18 by Badlands

Other than making the announcement the Trust had sod all to do with this.


That’s a bit like saying the trust have never had anything to do with anything since the Americans arrived ?

A great believer in taking anything you like to wherever you want to.
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Swans Trust latest on 14:49 - Oct 18 with 785 viewsReslovenSwan1

Swans Trust latest on 12:47 - Oct 18 by KeithHaynes

That’s a bit like saying the trust have never had anything to do with anything since the Americans arrived ?


So the £500k has been payed into the Trusts account right?.

The Trust post 2015 has been a pain in the neck to the club. Happily the old school people were dispatched allowing for a new consensus. The flawed legal case was a fig leaf for their mismanagement added to by bluff and bluster of clueless forum regulars. £20m or at least £10m was there for them on a plate. The six year rule was a 'put up or shut' up moment and the activists disappeared.

The Chief and Chong suggested the US owners were happy to take interest and doubted they would convert. They were of course wrong once more. This is INVESTMENT. The biggest investment in Swansea EVER.

The Trust having failed to sell after the 2014 high water mark have declined to be investors /traders and will simply accept dilution to 5% holding over the next few decades it seems.
The US owners would have to invest a kings ransom for this to happen. This is a strategy for wimps. Very sad in fact.
[Post edited 18 Oct 2022 14:50]

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Swans Trust latest on 15:16 - Oct 18 with 750 viewsfelixstowe_jack

Good news more investment for the club. Will put to bed the myth that the American owners are only taking money from the club.

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Swans Trust latest on 15:35 - Oct 18 with 734 viewsRichardO

Does that mean the original owners thought they had taken the club as far as they could and thought they were doing the right thing for the club.
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